YZi Labs: CEA Industries Board Adopts Poison Pill Plan to Solidify Position, Calls for Fair Elections

In response to reports, YZi Labs posted on X platform expressing disappointment in the actions taken by the board of CEA Industries (BNC) to implement a 'poison pill plan' and amend the bylaws in response to YZi Labs' solicitation of written consents. YZi Labs believes these actions are aimed at thwarting and delaying shareholders' ability to exercise their rights through written consents, with the goal of solidifying the board's position rather than protecting shareholder interests.

YZi Labs points out that the BNC board has postponed the 2025 annual meeting scheduled for December 17, calling on the board to avoid further manipulative behavior and ensure fairness in the director nomination and election process. Additionally, YZi Labs refutes BNC's statement that alternative token strategies were never considered, stating that BNC CEO David Namdar explicitly mentioned considering switching to assets like Solana at a meeting in November 2025.

YZi Labs has submitted a preliminary consent statement to the SEC, intending to expand the size of the BNC board and elect its nominated director candidates. Individuals participating in this solicitation include YZi Labs Management, Binance founder Changpeng Zhao, Max Baucus Sieben, David James Chapman, Marie Teresa Goody Guillené, Jiajin He, Alex Odagiu, Matthew Roszak, and Ling Zhang. Currently, YZi Labs Management directly holds 2,150,481 shares of BNC common stock.

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